Tax Expense
/ˈtæks ɪkˌspɛns/
Definitions
- (n.) An amount recognized on financial statements reflecting the total taxes owed by a business entity during a specific period.
The company's tax expense increased significantly due to changes in corporate tax rates.
Forms
- tax expense
- tax expenses
Related terms
See also
Commentary
Tax expense is an accounting concept reflecting the tax burden on a company; it is critical in legal contexts involving financial reporting and compliance with tax regulations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.